Long lockdown for advisers

Level four will stay in place until after the Anzac Day long weekend, with level three coming into effect in the early hours of April 28. 

Businesses unable to operate from home will be permitted to reopen in level three if they can implement safe social distancing measures, but mortgage advisers have been told to stay at home.

In the property market, open homes and auctions will remain off-limits during level three lockdown, as the Government seeks to stamp out Covid-19. 

Financial Advice New Zealand has been in contact with the Government to see what level three would look like for advisers. 

The trade body said: "They [officials] confirmed to us that under alert level three all client engagement should be remote – not visiting clients in home or having clients come to the office."

Financial Advice NZ said advisers cannot assume face-to-face meetings with clients at level three, and everyone must work from home "unless that is not possible". 

The trade organisation added adviser businesses can open their office to workers "who cannot work from home", but they can't take in-person appointments with clients. 

Financial advice is not considered an essential service, and client-facing executives, including business development managers and sales executives, must conduct meetings remotely. 

Financial Advice NZ is working on resources to support advisers through level two. Level three lockdown will be in place for at least two weeks from April 28.